The owners of a giant container ship that blocked the Suez Canal in March have made a new offer in a compensation dispute with the canal authority, a lawyer for the authority said on Sunday, as a court ruling on the case was postponed for two weeks.
The Ever Given container ship has been anchored in a lake between two stretches of the canal since it was dislodged on March 29. It had been grounded across the canal for six days, blocking hundreds of ships and disrupting global trade.
The Suez Canal Authority (SCA) demanded $916 million in compensation to cover salvage efforts, reputational damage and lost revenue, before publicly lowering the request to $550 million.
The Ever Given’s Japanese owners Shoei Kisen and its insurers have disputed the claim and the ship’s detention under an Egyptian court order.
Negotiations had been continuing until Saturday, SCA lawyer Khaled Abu Bakr told a court hearing in Ismailia over the ship’s detention. The ship’s owners had put in a new offer, he said, without giving details.
The SCA’s chairman previously said Shoei Kisen had offered to pay $150 million.
A court ruling was due on Sunday after several delays, but Shoei Kisen’s legal team asked to allow more time for negotiations, one of their lawyers said.
Judicial sources said the case was postponed until July 4 to allow for “friendly settlement” between the parties.
This week UK Club, one of the ship’s insurers, said it was engaged in “serious and constructive negotiations” with the SCA, and was “hopeful of a positive resolution to these negotiations in the near future.”
Egypt court postpones Suez ship hearing for more compensation talksAn Egypt court on Saturday adjourned a case on the container ship that blocked the Suez Canal to allow for more time to negotiate for a ... Middle East
Ship suffers engine trouble in Suez Canal, no impact on trafficA container ship broke down in the Suez Canal on Friday but was refloated and repaired with no impact on traffic in the waterway, the Suez Canal ... Middle East
Egyptian court upholds detention of Ever Given in Suez Canal: LawyerAn Egyptian court on Sunday rejected a complaint by the Japanese owner of a container ship that blocked traffic in the Suez Canal for six days in ... Middle East
Suez Canal begins dredging work to extend double laneThe Suez Canal Authority (SCA) has started dredging work to extend a second lane that allows for two-way traffic in a southern section of the canal ... Middle East